Online and other non-store sales were up 1.2 per cent month-over-month seasonally adjusted and up 12 per cent unadjusted year-over-year, while furniture and home furnishings stores were down 3.6 per cent month-over-month seasonally adjusted but up 17.5 per cent unadjusted year-over-year.

Year-over-year increases were unusually high this spring because most stores were closed by the pandemic during those months last year, but some stores had started to reopen by last June. Despite occasional month-over-month declines, sales have grown year-over-year every month since June 2020, according to US Census Bureau.

NRF’s calculation of retail sales – which excludes automobile dealers, gasoline stations and restaurants to focus on core retail – showed June was up 0.8 per cent seasonally adjusted from May and up 12.1 per cent unadjusted year-over-year. That compared with a month-over-month decline of 1.9 per cent and a year-over-year increase of 16.5 per cent in May. NRF’s numbers were up 19.3 per cent unadjusted year-over-year on a three-month moving average, the federation said in a press release.

For the first six months of the year, sales were up 16.4 per cent over the same period in 2020. With the rate of growth expected to slow in the second half of the year that is consistent with NRF’s revised forecast that 2021 retail sales should grow between 10.5 and 13.5 per cent over 2020 to between $4.44 trillion and $4.56 trillion. As with NRF’s monthly calculation, the forecast excludes auto dealers, gas stations and restaurants.

“We’re continuing to see an impressive recovery,” NRF chief economist Jack Kleinhenz said. “Reopening of both stores and the overall economy has progressed, and even higher prices seen in some retail categories reflecting the push-and-pull of supply chain challenges haven’t proven to be a deterrent to spending. As more people get vaccinated and get out, some of the growth will shift to services rather than retail but there’s enough momentum to support both.”

Fibre2Fashion News Desk (KD)